Pension Action E-Newsletter

February 19 , 2009

New White House Middle Class Task Force Will Address Retirement Security
President Obama has announced the creation of a Middle Class Task Force, which focuses on issues that affect everyday workers. As Vice President Biden writes in a USA Today editorial, one of the Task Force’s first activities will be to hold a series of town hall meetings on topics central to the lives of those in the middle class, including the very important issue of retirement security.  When details about these town hall meetings become available, we’ll let you know.  In the meantime, let the Task Force know what issues are important to you by sending a message via its web site.

You May Have Missed It…
If you haven’t been reading our blog lately, you’ve missed details on a new report showing how 401(k) plans have taken a few steps back in the last few years, executive orders aimed at leveling the playing field for the nation’s workers, information on what workers can do if their employer declares bankruptcy, and a slew of other issues.  Don’t miss out.  Be the first to know what we’re blogging about by subscribing today!

The Changing Retirement Landscape
The recession has hit retirement plans hard.  In the last few weeks we’ve added more than 20 companies to the list of firms that have made changes to their 401(k) savings plans.  We’ve also had to add a few businesses to the list of companies that have made changes to their traditional pension plans.  Take a look at these lists to find out if you are affected by any of these changes.  If you know of a company that should be added to either of these lists, send us an e-mail to let us know.

Has Your 401(k) Plan Lost Value?
The Pension Rights Center has been contacted by reporters interested in interviewing people who have had to change their plans for retirement because of declines in their 401(k) accounts.  Specifically, they would like to interview current and soon-to-be retirees who have had to go back to work or delay retirement because their 401(k) savings have lost so much value.  If you fit this description and are willing to share your story, send us an e-mail and we’ll connect you with these reporters.

NRLN Helps Delphi Retirees
After learning that Delphi, the large automotive parts supplier, asked a bankruptcy court to allow it to cancel health care and life insurance benefits for current and future retirees, the National Legislative Retiree Network sprung into action to ensure that these important benefits wouldn’t be cut back. NRLN is a non-partisan, grassroots coalition of retiree associations, individual retirees and pre-retirees devoted to enacting federal legislation to protect pension plans and retirement healthcare benefits.  To learn about NRLN and its activities, visit its web site.

Did You Know?
A little-known provision may prevent some spouses and ex-spouses of federal employees from receiving pension benefits.  Federal employees covered by the Civil Service Retirement System who stop working for the government, but die before applying for retirement benefits may inadvertently prevent their spouses and former spouses from receiving the survivor pensions they are entitled to.  Learn more about this provision in the law by reading our press release about it.

Articles of Interest

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